FIXED INCOME INVESTORS PRESENTATION
FY 2019
FIXED INCOME
INVESTORS
PRESENTATION
Here to help you prosper
Important information
Non-IFRS and alternative performance measures
In addition to the financial information prepared in accordance with International Financial Reporting Standards (¡°IFRS¡±) and derived from our financial statements, this presentation contains
certain financial measures that constitute alternative performance measures (¡°APMs¡±) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and
Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (¡°Non-IFRS Measures¡±). The financial measures contained in this presentation that qualify as
APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have
neither been audited nor reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider these APMs and nonIFRS measures to be useful metrics for management and investors to facilitate operating performance comparisons from period to period. While we believe that these APMs and non-IFRS
measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies,
including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures. For further details of the APMs and Non-IFRS
Measures used, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under
IFRS, please see the 2019 Annual Financial Report, filed with the Comisi¨®n Nacional del Mercado de Valores of Spain (CNMV) on 28 February 2020. This document is available on Santander¡¯s
website ().
The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses and local
applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments may differ materially from
those of such subsidiaries
Forward-looking statements
Santander cautions that this presentation contains statements that constitute ¡°forward-looking statements¡± within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forwardlooking statements may be identified by words such as ¡°expect¡±, ¡°project¡±, ¡°anticipate¡±, ¡°should¡±, ¡°intend¡±, ¡°probability¡±, ¡°risk¡±, ¡°VaR¡±, ¡°RoRAC¡±, ¡°RoRWA¡±, ¡°TNAV¡±, ¡°target¡±, ¡°goal¡±, ¡°objective¡±,
¡°estimate¡±, ¡°future¡± and similar expressions. These forward-looking statements are found in various places throughout this presentation and include, without limitation, statements concerning our
future business development and economic performance and our shareholder remuneration policy. While these forward-looking statements represent our judgment and future expectations
concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.
The following important factors, in addition to those discussed elsewhere in this presentation, could affect our future results and could cause outcomes to differ materially from those anticipated in
any forward-looking statement: (1) general economic or industry conditions in areas in which we have significant business activities or investments, including a worsening of the economic
environment, increasing in the volatility of the capital markets, inflation or deflation, and changes in demographics, consumer spending, investment or saving habits; (2) exposure to various types
of market risks, principally including interest rate risk, foreign exchange rate risk, equity price risk and risks associated with the replacement of benchmark indices; (3) potential losses associated
with prepayment of our loan and investment portfolio, declines in the value of collateral securing our loan portfolio, and counterparty risk; (4) political stability in Spain, the UK, other European
countries, Latin America and the US (5) changes in laws, regulations or taxes, including changes in regulatory capital and liquidity requirements, including as a result of the UK exiting the
European Union and increased regulation in light of the global financial crisis; (6) our ability to integrate successfully our acquisitions and the challenges inherent in diverting management¡¯s focus
and resources from other strategic opportunities and from operational matters while we integrate these acquisitions; and (7) changes in our ability to access liquidity and funding on acceptable
terms, including as a result of changes in our credit spreads or a downgrade in our credit ratings or those of our more significant subsidiaries. Numerous factors could affect the future results of
Santander and could result in those results deviating materially from those anticipated in the forward-looking statements. Other unknown or unpredictable factors could cause actual results to
differ materially from those in the forward-looking statements.
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Important information
Forward-looking statements speak only as of the date of this presentation and are based on the knowledge, information available and views taken on such date; such knowledge,
information and views may change at any time. Santander does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information,
future events or otherwise.
No offer
The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure
document published by Santander. Any person at any time acquiring securities must do so only on the basis of such person¡¯s own judgment as to the merits or the suitability of the
securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or
appropriate in the circumstances and not in reliance on the information contained in this presentation. No investment activity should be undertaken on the basis of the information
contained in this presentation. In making this presentation available Santander gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or
in any other securities or investments whatsoever.
Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be
made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is
intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets
Act 2000.
Historical performance is not indicative of future results
Statements as to historical performance or financial accretion are not intended to mean that future performance, share price or future earnings (including earnings per share) for any
period will necessarily match or exceed those of any prior period. Nothing in this presentation should be construed as a profit forecast.
Third Party Information
In particular, regarding the data provided by third parties, neither Santander, nor any of its administrators, directors or employees, either explicitly or implicitly, guarantees that these
contents are exact, accurate, comprehensive or complete, nor are they obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be
detected. Moreover, in reproducing these contents in by any means, Santander may introduce any changes it deems suitable, may omit partially or completely any of the elements of
this presentation, and in case of any deviation between such a version and this one, Santander assumes no liability for any discrepancy.
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CONTENT
1.
Markets and Macroeconomic Environment
2.
Santander Business Model & Strategy
3.
Capital
4.
Asset Quality
5.
Liquidity and Funding
6.
Concluding Remarks
7.
Appendix
4
Markets and
Macroeconomic
Environment
01
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